Notes on Marketing Experimentation (Classic Reprint)

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Excerpt from Notes on Marketing Experimentation The successful conduct of marketing operations requires good information about market behavior. Such information comes from many sources--from historical sales data, personal experiences, surveys, and various special studies. We shall here take up a specialized but valuable method of learning about the market, namely, experimentation. Principally, we shall consider experiments involving the active intervention in the market by a company to measure the effect on sales of variables under the company*s control. For example, quantities such as advertising, price, salesman's calls, packaging, and display might be varied to estimate their effect on sales. Presumably, once the sales effect is estimated, appropriate calculations will convert this into an effect on profit or other relevant measure of effectiveness. Although the discussion will focus on sales experiments, most of the principles discussed apply to any response variable. The term, experiment, will be used to imply a controlled comparison of alternatives. In other words, two or more experimental treatments are applied in a situation where the experimenter is able to decide which experimental units receive the treatment. Thus, an experiment might compare promotions A and B by using them in different sets of cities. The experimenter decides which city receives which treatment (probably doing this by a random process). A more passive approach is to analyze historical data in which marketing variables have varied in the normal course of company operations. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.